A ‘home grown’ pioneer of the IT sector in the province is to create more than 400 new jobs in Belfast and Londonderry as part of an investment worth around £5 million.

Kainos was one of the first business spinouts from Queen’s University almost 30 years ago.

Today, it employs 700 people and works across the world with more than 150 clients.

The new investment is aimed primarlity at boosting that export performance and was hailed as “a great news day” for a firm seen as one of the orginal firms that set the course for the city’s development as an important IT hub.

The jobs to be delivered over the next five years will carry an average salary of over £30,000.

“Our ambition is to develop digital solutions that help our customers work smarter, faster and better, and this depends on having a capable and committed workforce,” said CEO Brendan Mooney.

“In Northern Ireland we are lucky to have excellent IT graduates and professionals. We bring talented people into the company and provide a career development framework that offers them the support and development they need to thrive.

“This investment in over 400 new jobs over five years will enable Kainos to accelerate a wide range of global opportunities and achieve our ambitious growth targets.”

Welcoming the announcement during a visit to the firm with his deputy Martin McGuinness, First Minister Peter Robinson said Kainos had built up a strong reputation for developing and delivering digital solutions and paid tribute to management and workforce which has consistently voted the business one of the UK’s top 100 in which to work.

“This expansion will drive sales and increase annual revenue by 25 per cent year-on-year, to £94m, over the next three years. This growth will be substantially achieved through increased export sales.”

Mr McGuinness said the 403 posts would create opportunities for highly experienced technical staff as well as graduates entering the world of work.

“Kainos has kept a sharp customer focus with an emphasis on delivering quality products and services. This, backed up by attracting and retaining the very best people in digital technology, has fuelled their momentum.

“The £5 million investment in staff skills will prepare their employees for the company’s expansion in both existing and new markets.”

Invest NI has offered £3.2m of an employment grant for the 403 jobs and £1.5m for training support through the Skills Growth Programme.